Bank of East Asia (OTCMKTS:BKEAY) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Bank of East Asia (OTCMKTS:BKEAY) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Bank E Asia has dedicated itself to service on behalf of the people of Hong Kong and customers in China and overseas. BEA is the largest independent local bank in Hong Kong. BEA offers a full range of wholesale and retail banking services covering corporate banking, personal banking, investment banking and China services. Products ranging from deposits, foreign currency savings, mortgage loans, consumer loans, credit cards, Cyberbanking, Mandatory Provident Fund services, trade finance, syndicated loans, remittances and foreign exchange margin trading. “

Separately, CICC Research cut shares of Bank of East Asia from a hold rating to a sell rating in a research report on Thursday, June 13th.

Shares of OTCMKTS:BKEAY opened at $2.40 on Tuesday. The stock has a market cap of $6.83 billion, a PE ratio of 9.23 and a beta of 0.98. The company’s fifty day moving average is $2.53 and its 200 day moving average is $2.91. Bank of East Asia has a 52 week low of $2.40 and a 52 week high of $3.87. The company has a quick ratio of 0.94, a current ratio of 0.93 and a debt-to-equity ratio of 0.03.

The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 5th will be given a $0.012 dividend. The ex-dividend date is Wednesday, September 4th. Bank of East Asia’s payout ratio is presently 7.69%.

About Bank of East Asia

The Bank of East Asia, Limited provides various banking and related financial services. It operates through eight segments: Personal Banking, Corporate Banking, Treasury Markets, Wealth Management, Financial Institutions, Others, Mainland China Operations, and Overseas Operations. The company offers various commercial and personal banking, financial, and insurance services.

See Also: Overbought

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